The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-06-16

| tho fact that I c.onJt collect moneys due me.
Ihsye been trsding larsely in stocks in New
| York an some Of my heaviest customers
failed TO make good their loses. Then when
l pork was cornered here I bad lome heavy
deals for customers who did not keep their
mArgins good, and had to settle at SO, ]
| just had to settle the ,rades and stand II
mystl ard t cost on that deal something
| over s. 900. / lost through the sans oauses
as much more on the stock market, and the
worst of IL Is th't the msn for wnom had
| to p8y out this money are practically with
| Gu means themselves today, so there is but
| little hope of re towering from them. The
break in wheat did not alone compel me TO
quit. OF course there is money lost in
| that too. but eVerythihg seemed TO come at
ones. Ic1uld net re pond 70 the calls for
margins on trades that would have been psr-
fectly safe: as they stood in less panicky
times. Ny liabilities are about ovsblJ d.
loans are on stocks and tonds ard are Sc
euro, Of course. What my liabilities at d as
Sc arc could not tell until have made
up the balance sheet. know / was carry
my membership in the New York Stock Ex.
| change will go part way toward paying up.
We have been liquidating here all II orning,
snd in a case like this a man cannot tell
able t. pay up every dollar and resume bust
hes" H,nSE
In the Circuit Court today suit was COM
manced by he tailed firm of Rosenfelj a o..
Gin cinp att, for 81. 100000 A deputy sheriff
secured SOL vice during the afternoon
vii shire while the latter was engaged In
aconfersnee in a Dearborn street bank.
Mr.. Resented said tonight thet the suit was
entirely ola civil nature. but what the de-
velOpments would be he was not pref pared to
state. The su had been brought in hurry
In order to- secure service on Wiltshire
while he was 10 town, and the details of the
proceedings were still in chaotic state.
The break in the wheat corner, and the ex-
has had the effect OF cutting eff for
the tims al grain shipments. both for ex-
pert and eastern consumption. The shippers
here are ali at sea rtgai ding price,, and can |
done hing IN til the panic lie over and trade |
settles back into legi innate channels. II is
believed in tn, railroad Offices thst ship |
lnents will rot be resumed before the first Of |
tho week, sltho sgh all the interested Off
cibls agree in asserting that the restO sstion |
ofwheat to normal price II have he eject |
70 swell east bound tonnage for the next |
three months TO double the usual proror-
tions. The basis for the suit is the defend |
ants failure to put up margins as they agreed |
to do. Wiluhiie let the city shortly after |
being served wi this papers in The suit.
This evening Frank johnson, of the firm |
Of Kosep field & Co., was pressed for def |
mite statement regarding The alleged attach |
ment 81 tho account OF Kershaw 4 Co. He |
said: ITS a campaign runor, inspired |
evidently by people antagohistic to us or by |
parties interested on the bear side Of the |
market. The money in question, If in ex- |
istence at all, would have turned tho tide |
this morning and allowed Kershaw to 20 |
through all risht and prevented most Of the |
failures. 1t would have been farthest from |
our thoughts to prevent such a pleasant |
event. We have seen enough demoralza-
ton, and would mako no movement which |
would hasten alluros and add to the present |
trOuhIa danv the ranOTt n ttaallv - |
Further Mr.. johnson would notsay.
TIE ASPECT OF AFFAIRS
n the Office Of o. J KershaW i Co. this af- |
ternoon was very different from that of the
previous day, when it was the center Of con-
collation. and the members of dozens of
houses passed to and from The presence Of
their ex pected pre.erver. Now the head Of
the firm sat alone in his private Office and
the few who sought an interview ware stern
ly denied. The clerks in the outer aparl-
ments had ceased to labor in the books and
stood about whispering over the gloomy out
look. At O'Clock pm an unexpected
visitor arrived IN the person Of, Deputy
Sheriff Burke Ho was armed with a writ
of attachment against the firm, in favor of
George d. Baldirg K Co. 1t was necessary
to see Mr.. Kershaw /, serve a notice on him
and the deputy blandly assumed the cbarac-
ter of a country gentleman DESTROYS of max
ing q friendly call. 1t would not work with
the clsrke: The deputy tried persu ssion aud
failed. Then he demanded admission,
showing his star. He was savagely refused,
he barstedit open. Four Of the clerks rushed
at the deputy TO eject him: Burke promptly
knocked two of tbem down, and with a
vicious kick at the other jumped into Ksr-
read in a iiffy, and without waiting for an
explanation, the deputy left in q hurry.
The echo of his footsteps had hardly
ceased when Mr.. Kershaw came out and
announced that he was going home. He did
not again appear ia his Office. Handouts of
attachments were taken out by various par
ties against the emb lrrs ssed firms, and he
descent of the sheriff's forces was equally
sudden and vigorous in other Offices. and it
is thought that all the firms against whom
writs of garnishee notices were Issued were
found aid served. So far as known but one
of the failed merchants foresaw danger of
such an event and took the prscaution to
transfer any property. The one such indi-
yldual vas j. II. Yourt, who had deed to
his wife recorded on the 18th, the considera-
ton named being $4,000.
THE UTMOST UNCERTAINTY
prevailed tonight regardine the status of the
$500 600 SAID to have b. en- br3u ht rom Gin
Gil natl this .morr ing by Wiltshire, of the
Fidelity Bank, and supposed osrly in the
day to have been deposited in the American
Exchange Bank TO the credit Of Kershaw Il
SS Not Sie" persons SsHt lar as to de-
myth. Others said that the. money
had come, but had gone back to Cincinnati
this evening in Wiltshire's possession, and
had never been deGos tod to the credit Of
kerahaw. Still another story was that the
sum nared had been placed at Kershaw's
disposal, but was immediately attached by
RO.enfeld as belonging not to Kershaw, but
70 WIil 6na moe 1tTsd ptOP;sTly to
members of Rosenfeld's firm were quiet
as confrmirg ia this view. II was said
that the American Exchange Bank officials
and q. j. X. rsbaw were in conference at
the ank. When reporter reached the
bank at a late hour enc Of the book keepers
sponse to knock. He was lothe to allow
an entrance, and being questioned about
had been nome. At this junctnre Ca. hier
beware ap PEER At the door Of his private
but one sttachnett Issued against the
money received from Cincinnati to c. j.
KeTshaw Co.'s credit today, and that was
at the y stance Of Maurice Rosenfeld for a
claim of $4,000"
"Hew much money did the bank re csive
for Kershaw & Co. todayp,
THAT cannot answer"
about how muohP'
swell, pretty big ROLL"
1T came in currency, tthen"
IBID Wiltshire bring i'll"
can't answer that question"
''Still, il was pretty big rollF"
Yes with laugh.
And Rosenield's attachment is for only
swell. its $4,000. You know the claim is
doubled to provide against damages" and
Cashier beware cut short further talk by
with drawing his head and the bookkeeper
closed the outer door with slam.
AT NEW YORK,
DrOp May be Met by the Movement